Tesla stock surges past $1tln again after stock split application

[MongiIG]

Shares in the electric car manufacturer, Tesla, are up again today all-sessions on the IG platform, after they surged 9.5% on Monday.

 

The gains come as the world’s most valuable car maker indicated its intention to ask for shareholder approval to increase the number of shares to initiate a stock split in the form of a dividend.

IGTV’s Jeremy Naylor points out that these corporate actions have been successful in the past and clearly investors like the idea of this move. It has the effect of bringing down the share price which tends to make stock far more liquid.

We also take a look at the performance of other big tech stocks that have initiated a stock split, such as Apple, Amazon, and Google owner Alphabet.